Acceptable time to find 2 independent directors?, page-17

Yes, indeed, MED depends on  those convertible notes on which MED has to pay interest. They are an Achilles heel for MED, given that the holders of the notes have security on MED's assets, should MED go bankrupt. 

For instance at that meeting you refer to, MED proposed entering into a secured note deed with Edensor Holdings for $2,500,000 being made available to MED for mine operations and working capital purposes.Stera Gutnick is a shareholder and Mordechai Gutnick and Stera Gutnick are directors of Edensor.MED provides Edensor Holdings security over its assets.

That MED has to rely on convertible notes is perverse, given that MED loaned AXIS $15 million. MED should have got the loan back from AXIS, instead of putting the company into debt.

By the way, the Sydney  Morning Herald states that a Mordechai Gutnick is a director of AXIS.

https://www.smh.com.au/business/companies/where-has-the-money-gone-from-diamond-joe-gutnick-s-loans-20190215-p50y2j.html

The same article says that a Stera Gutnick is Joe Gurnick's wife. 

What I don't know is whether the two are the same persons as owe money to MED, and are now lending MED money.

Do you know, Pentacost?